Yes Bank co founder Rana Kapoor, two others granted bail

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A Mumbai court on Wednesday granted bail to Yes Bank co-founder Rana Kapoor and Avanatha Group’s Gautam Thapar and B. Hariharan of Avantha Group in a money laundering case.

Additional Sessions Judge M.G. Deshpande granted them bail.

Senior advocate Mahesh Jethmalani appeared for Thapar and Sandeep Kapur for Hariharan.

The case pertains to criminal conspiracy for obtaining illegal gratification to the tune of Rs 307 crore by Rana Kapoor, the then MD & CEO of Yes Bank Ltd by acquiring a property located at New Delhi’s Amrita Shergill Marg at a price of Rs 378 crore against the alleged declared value of Rs 685 crore.

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